Today, the USDJPY exchange rate remains within a confined minor channel, adhering closely to the bearish flag pattern. Analysts are closely monitoring a crucial support level at 153.65, whose breach could trigger a further downward movement, potentially targeting a correctional level near 151.10.
Key technical indicators, notably the EMA50, continue to exert downward pressure, reinforcing expectations of a sustained decline. However, a decisive breach above 154.70 would invalidate the current bearish scenario, potentially shifting sentiment towards bullish, with an initial target around 156.80.
Traders and investors are advised to anticipate a trading range bounded by support at 153.20 and resistance at 154.90 for the remainder of today’s session. This technical setup underscores cautious market sentiment as participants await further directional cues.
